Oz equivalent of UK premium bonds

[Allie Bloss]

Hi.

When we were in the UK my parents got our children premium bonds, but now that we all reside in Oz they are looking to get something of similar nature for them over here.
Can anyone advise is there any such thing?

Cheers.

[tinkertailerdog]

Even if they did have them (which I don't believe they do) you're probably better off buying them shares in a trust or sticking some money in a bank account at a decent interest rate. I had premium bonds in the UK and the minimal amount i use to win worked out the equivalent of approx 1% on the investment. I'm not sure what the average would have been but i suspect not much better.

[Warmwelcome]

Hi Allie
BankSA/St George offer 6% on at call online direct saver accounts, and I think ING do to. It's a pretty good deal for at call funds.